3686 Panola Rd · Stonecrest, GA 30038

$230,000

3 bd · 2.0 ba · 1,569 sqft · SingleFamily public records · 52 Days on market

Built 1965 0.42 ac lot $147/sqft · 11% below area Est $258k · 11% under ↓ 9% since listing

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.4/30.0
• ARV discount +12.3/15.0
• DSCR +6.1/10.0
• 1% rule +4.0/10.0
• Rent growth +3.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Unlock the potential in this classic 1965 4-sided brick home, perfectly positioned on a spacious lot with both a large front and backyard. Offering 3 bedrooms and 2 baths, this property delivers the kind of solid construction and footprint that's hard to find. Inside, you'll find a traditional layout ready for customization, while the full unfinished basement-with exterior access to the backyard-creates endless possibilities for expansion, storage, workshop space, or future finished living area. The covered brick carport adds everyday convenience, and the no-HOA setting provides flexibility for a variety of uses. Located along a main road for easy access to surrounding areas, commuting, and nearby amenities. Maintained in largely original condition, this home is ideal for those looking to renovate, invest, or create a personalized space from a strong starting point. A truly great property-combining land, structure, and endless potential.

Key facts

• 0.42 acre lot
• 2 parking spots
• Built 1965

Property features AI

Exterior

• Parking: Two total parking spaces; One carport space; Carport and level driveway; Open parking available
• Utilities: Public water; Septic tank sewer; 110 volt electric; Cable available; Electricity available; Phone available; Water available
• Home design: Two levels; Brick exterior (brick on all sides); Composition roof; Resale property; Basement with daylight windows, exterior entry and walk-out access; unfinished
• Construction: Brick/mortar foundation
• Exterior features: Private yard; Front porch; Asphalt road frontage on a county road

Interior

• Kitchen: Eat-in kitchen with breakfast area; View to family room; Pantry and walk-in pantry; Cabinets; Dishwasher; Electric cooktop
• Bedrooms: Three main-level bedrooms; Primary bedroom on the main level
• Flooring: Carpet
• Bathrooms: Two full bathrooms; Primary bathroom with tub/shower combination
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Window treatments; No shared/common walls; Other interior features
• Laundry & utility: Laundry in basement / lower level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $257 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $206k (10.4% below list).
• Recommended offer: $206k (10.4% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 5.1% in Stonecrest — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Dekalb County (suburban): math 19% / reading 28% proficiency, ranked #125 of 174 in GA (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Flat Rock Elementary School (math 2% / reading 8%, grade F, #1,160 of 1,228 statewide, top 98%, 996 students, 100% FRL); Salem Middle School (math 5% / reading 16%, grade F, #429 of 470 statewide, top 91%, 988 students, 100% FRL); Martin Luther King- Jr. High School (math 8% / reading 22%, grade F, #297 of 424 statewide, top 74%, 1,440 students, 100% FRL) — zoned schools average 100% FRL vs 68% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 10% at this address vs 24% district-wide (-13 pts) — the specific schools serving this property underperform the Dekalb County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.6%/yr); 321 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).
• This rent runs 34% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• DeKalb County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $24k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $205,994 (10.4% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.90% ✗
• Cap rate: 7.63%
• Cash-on-cash: 4.79%
• DSCR: 1.21
• GRM: 9.3

CMA / ARV

• ARV (median comp): $257,659
• List price: $230,000
• Delta: -10.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3449 Oak Run Dr	0.46mi	3/2.0	1,512 (-4%)	1mo	$153,500	$102	71
5209 Salem Rd	0.26mi	3/1.0	1,472 (-6%)	4mo	$70,000	$48	70
5438 Salem Springs Dr	0.55mi	3/2.5	1,560 (-1%)	3mo	$240,000	$154	69
4954 Browns Mill Rd	0.39mi	3/2.0	1,414 (-10%)	2mo	$226,500	$160	64
3599 Salem Glen Rd	0.46mi	3/2.0	1,478 (-6%)	8mo	$230,000	$156	62
3754 Salem Meadows Dr	0.56mi	3/2.0	1,480 (-6%)	5mo	$230,000	$155	60
3512 Valley Chase Ct	0.23mi	3/2.0	1,341 (-14%)	6mo	$271,500	$202	60
5407 Effingham Ct	0.64mi	3/2.0	1,610 (+3%)	7mo	$218,000	$135	60
5055 Great Meadows Rd	0.43mi	3/2.0	1,382 (-12%)	7mo	$208,000	$151	54
3554 Portsmouth Cir	0.56mi	3/2.5	1,752 (+12%)	4mo	$270,000	$154	49
5326 Rocky Pine Dr	0.61mi	3/2.0	1,400 (-11%)	8mo	$190,000	$136	47
5421 Salem Springs Dr	0.58mi	3/2.5	1,804 (+15%)	6mo	$203,000	$113	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.6% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.73×
• Total profit: $-17,630
• Equity at exit: $34,294

10-year hold

• IRR: 3.9%
• Equity multiple: 1.30×
• Total profit: $19,597
• Equity at exit: $19,886

Cash invested: $64,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Georgia: 90 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

Magistrate court evictions in 10-30 days; no rent control; preempted; few tenant protections.

Methodology + full state rankings →

ZIP-level market 30038

• Home prices YoY: -28.0%
• Rents YoY: 4.6%
• Active inventory: 321
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,060 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$68 /mo · $819/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $257

Break-even live

Break-even rent $1,734

Max offer price $230,000

Occupancy floor 83%

Sensitivity live

Price	-10% $387	-5% $322	+0% $257	+5% $192	+10% $127
Rent	-10% $94	-5% $176	+0% $257	+5% $338	+10% $420
Rate	-1.0pp $373	-0.5pp $316	base $257	+0.5pp $198	+1.0pp $137

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3712 Salem Chapel Dr Lithonia, GA	3.0	2.5	1683	$1,650	$0.98	11d	1	0.47mi
3468 Deer Trce Lithonia, GA	3.0	1.0	1886	$2,800	$1.48	25d	1	0.47mi
3673 Walnut Creek Way Lithonia, GA	4.0	3.0	1692	$1,895	$1.12	4d	1	0.61mi
5238 Walnut Ct Lithonia, GA	4.0	2.5	1492	$1,940	$1.30	3d	1	0.66mi
5302 Timor Trl Lithonia, GA	3.0	2.0	1330	$1,900	$1.43	44d	1	0.91mi
3199 Pearce Ct Lithonia, GA	4.0	2.5	1700	$2,035	$1.20	25d	1	1.29mi
100 Cavalier Xing Stonecrest, GA	3.0	2.0	1558	$1,990	$1.28	25d	1	1.35mi
5301 W Fairington Pkwy Lithonia, GA	1.0–3.0	1.0–2.0	1020	$1,946	$1.91	2d	37	1.40mi

Listing history 16 events

1. 2026-06-21
   days on market $230,000 Active 52 DOM
2. 2026-06-18
   days on market $230,000 Active 49 DOM
3. 2026-06-17
   days on market $230,000 Active 48 DOM
4. 2026-06-16
   days on market $230,000 Active 47 DOM
5. 2026-06-15
   days on market $230,000 Active 46 DOM
6. 2026-06-13
   days on market $230,000 Active 44 DOM
7. 2026-06-09
   days on market $230,000 Active 40 DOM
8. 2026-06-08
   pricedays on market $230,000 Active 39 DOM

   Show marketing remark (955 chars)

   Unlock the potential in this classic 1965 4-sided brick home, perfectly positioned on a spacious lot with both a large front and backyard. Offering 3 bedrooms and 2 baths, this property delivers the kind of solid construction and footprint that's hard to find. Inside, you'll find a traditional layout ready for customization, while the full unfinished basement-with exterior access to the backyard-creates endless possibilities for expansion, storage, workshop space, or future finished living area. The covered brick carport adds everyday convenience, and the no-HOA setting provides flexibility for a variety of uses. Located along a main road for easy access to surrounding areas, commuting, and nearby amenities. Maintained in largely original condition, this home is ideal for those looking to renovate, invest, or create a personalized space from a strong starting point. A truly great property-combining land, structure, and endless potential.

9. 2026-06-07
   days on market $254,000 Active 38 DOM
10. 2026-06-04
    days on market $254,000 Active 35 DOM
11. 2026-06-03
    days on market $254,000 Active 34 DOM
12. 2026-06-02
    days on market $254,000 Active 33 DOM
13. 2026-06-01
    days on market $254,000 Active 32 DOM
14. 2026-05-31
    days on market $254,000 Active 31 DOM
15. 2026-04-22
    listed $254,000 New 955-char remark

    Show marketing remark (955 chars)

    Unlock the potential in this classic 1965 4-sided brick home, perfectly positioned on a spacious lot with both a large front and backyard. Offering 3 bedrooms and 2 baths, this property delivers the kind of solid construction and footprint that's hard to find. Inside, you'll find a traditional layout ready for customization, while the full unfinished basement-with exterior access to the backyard-creates endless possibilities for expansion, storage, workshop space, or future finished living area. The covered brick carport adds everyday convenience, and the no-HOA setting provides flexibility for a variety of uses. Located along a main road for easy access to surrounding areas, commuting, and nearby amenities. Maintained in largely original condition, this home is ideal for those looking to renovate, invest, or create a personalized space from a strong starting point. A truly great property-combining land, structure, and endless potential.

16. 2026-04-22
    listed $254,000 Active 985-char remark

    Show marketing remark (955 chars)

    Unlock the potential in this classic 1965 4-sided brick home, perfectly positioned on a spacious lot with both a large front and backyard. Offering 3 bedrooms and 2 baths, this property delivers the kind of solid construction and footprint that's hard to find. Inside, you'll find a traditional layout ready for customization, while the full unfinished basement-with exterior access to the backyard-creates endless possibilities for expansion, storage, workshop space, or future finished living area. The covered brick carport adds everyday convenience, and the no-HOA setting provides flexibility for a variety of uses. Located along a main road for easy access to surrounding areas, commuting, and nearby amenities. Maintained in largely original condition, this home is ideal for those looking to renovate, invest, or create a personalized space from a strong starting point. A truly great property-combining land, structure, and endless potential.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast GA · Resets to sale price

• Current annual tax: $819 · $68/mo
• Projected year-2 tax: $2,116 · $176/mo
• Expected delta: +$1,297/yr (+$108/mo · 158.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,719
• − Mortgage interest: −$12,884
• − Property taxes: −$819
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,978
• − Management: −$1,978
• − Depreciation: −$6,691
• Taxable loss: −$780
• Est. tax savings @ 24.0%: +$187
• After-tax cash flow: $3,272/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Dekalb County
• NCES district ID: 1301740
• Math proficiency: 19% ▼ -12.00%
• Reading proficiency: 28% ▼ -7.00%
• Median HH income: $51,448
• Composite: 20.92/100
• National rank: #8482
• State rank: #125 of 174 in GA

Livability — Stonecrest

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Stonecrest, GA
• County: Dekalb County · 782,738 people
• City population: 106,165
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 43,776
• Household income: $73,694
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 1168.0

Population outlook (DeKalb County) Hauer SSP2

• Today (2025): 839,977 people
• By 2030: 891,768 · +6.2%
• By 2040: 988,894 · +17.7%
• By 2050: 1,074,583 · +27.9%
• By 2075: 1,245,026 · +48.2%
• By 2100: 1,303,135 · +55.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (84%)
• Race & ethnicity: Black 84% Two or more races 10% Hispanic / Latino 5% White 4% Asian 1%
• Foreign-born: 12% · Canada, China
• Languages at home: 90% English-only · Spanish 5% French/Haitian/Cajun 1% Other Indo-European 0%

Political lean MEDSL · DeKalb

• 2024 margin: Solid D (+64.8) · D 81.9% · R 17.1% · Other 1.0%
• 2008→2024 swing: +6.1pp toward D · 2008: 58.6pp · 2024: 64.8pp
• All cycles: 2024: D+64.8 2020: D+67.4 2016: D+64.8 2012: D+56.8 2008: D+58.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.98%
• Current HPI: 192.8328
• Rent YoY: ▲ 4.60%
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• State GDP YoY: ▲ 2.66%
• F500 in state: 28

Industry mix (Fortune 500 HQ in GA)

Industry	F500 HQs	Revenue
▸Paper / Packaging	2	$29B
▸Retail	1	$160B
▸Transportation / Logistics	1	$91B
▸Airlines	1	$62B
▸Consumer Goods	1	$47B
▸Utilities	1	$25B

Price history

-9.4% since first listed

4 events — show timeline

• 2026-06-08 Price Changed $230,000 GAMLS
• 2026-06-08 Price Changed $230,000 FMLS
• 2026-04-22 Listed $254,000 FMLS
• 2026-04-22 Listed $254,000 GAMLS

Property tax history

+1.7%/yr

Latest (2025): $819 · -5.3% YoY. Source: county tax records.